 real estate prices will hit new highs after olympics |
|
|
|
| real estate prices will hit new highs after olympics |
  |
| realtor |
 Dec 4 2008, 06:07 AM
Post
#1
|
 |
I am telling all my clients to buy real estate now for a guaranteed gains on their properties after the olympics. when the world's elite come to vancouver and see such a beautiful city, they'll invest in droves and real estate prices will truly be out of the reach of most invidivuals. this is the time to buy when prices are taking a breather before it comes back in full swing.
don't believe me? ask canada's foremost expert in real estate like bob rennie or cam muir. |
|
 
|
|
universal child
|
Dec 4 2008, 08:42 AM
Post
#2
|
|
|
You guys are to much no bubble to burst, the market has a long way yate to slide so relax folks and pick up a home once the market has settled as there will be much to pick from and at prices you can afford. Affordable homes what a concept who would have come up with that well not the Liberals and not the Land Developers and certainly not the Real Estate companies because they are just such a greedy lot. Most held position in BC Legistator Land Developer and Used Car Saleman. And now I watch with much delight as the greedy lot all come tumbling down. Liberals will lose the election. Buzz: Regulation
|
|
|
|
| ben |
Dec 4 2008, 09:59 AM
Post
#3
|
|
|
QUOTE (realtor @ Dec 4 2008, 06:07 AM)  I am telling all my clients to buy real estate now for a guaranteed gains on their properties after the olympics. when the world's elite come to vancouver and see such a beautiful city, they'll invest in droves and real estate prices will truly be out of the reach of most invidivuals. this is the time to buy when prices are taking a breather before it comes back in full swing. don't believe me? ask canada's foremost expert in real estate like bob rennie or cam muir. Keep dreaming! |
|
|
|
| Sponsor Ad | |
|
|
|
|
|
|
| REAL tor |
Dec 4 2008, 10:07 AM
Post
#4
|
|
|
The Olympics didn't do much for Salt Lake City housing prices:
|
|
|
|
| REAL tor |
Dec 4 2008, 10:08 AM
Post
#5
|
|
|
|
|
|
|
|
homeReno
|
Dec 4 2008, 10:08 AM
Post
#6
|
|
|
Must be a troll
|
|
|
|
|
StringerBell
|
Dec 4 2008, 10:09 AM
Post
#7
|
|
|
QUOTE (realtor @ Dec 4 2008, 07:07 AM) I am telling all my clients to buy real estate now for a guaranteed gains on their properties after the olympics. when the world's elite come to vancouver and see such a beautiful city, they'll invest in droves and real estate prices will truly be out of the reach of most invidivuals. this is the time to buy when prices are taking a breather before it comes back in full swing. don't believe me? ask canada's foremost expert in real estate like bob rennie or cam muir. Which world elites don't know about Vancouver? Vancouver is already a known. |
|
|
|
| ben |
Dec 4 2008, 10:12 AM
Post
#8
|
|
|
QUOTE (REAL tor @ Dec 4 2008, 10:08 AM) Its not just salt lake city. Throughout history the olympics has never increase housing prices in other cities. This is fact. |
|
|
|
| ben |
Dec 4 2008, 10:16 AM
Post
#9
|
|
|
but youll never get facts from a realtor.
|
|
|
|
|
StringerBell
|
Dec 4 2008, 10:31 AM
Post
#10
|
|
|
In March of this year I got into an argument with a mortgage broker about the trend of the realestate market in Van. He had the nerve to say it was a great time to buy! It makes no sense taking advice from realtors, or anyone who profits from the sale of realestate. You wouldn't get adivce from your drug dealer about the pros and cons of "crack" cocaine, would you?
|
|
|
|
|
MASCOTA
|
Dec 4 2008, 10:56 AM
Post
#11
|
|
|
QUOTE (realtor @ Dec 4 2008, 07:07 AM) I am telling all my clients to buy real estate now for a guaranteed gains on their properties after the olympics. when the world's elite come to vancouver and see such a beautiful city, they'll invest in droves and real estate prices will truly be out of the reach of most invidivuals. this is the time to buy when prices are taking a breather before it comes back in full swing. don't believe me? ask canada's foremost expert in real estate like bob rennie or cam muir. Omg . It is you again. Go, get a job at MacDonald;s. |
|
|
|
|
StraightTalk
|
Dec 4 2008, 12:35 PM
Post
#12
|
|
|
QUOTE (realtor @ Dec 4 2008, 06:07 AM) I am telling all my clients to buy real estate now for a guaranteed gains on their properties after the olympics. when the world's elite come to vancouver and see such a beautiful city, they'll invest in droves and real estate prices will truly be out of the reach of most invidivuals. this is the time to buy when prices are taking a breather before it comes back in full swing. don't believe me? ask canada's foremost expert in real estate like bob rennie or cam muir. I agree with you. You are taking a more bullish stance but there is a good probability that will happen. Just look at what Expo '86 did for Vancouver. The 2010 Olympics is many times a bigger event than Expo '86 ever was for Vancouver. Our Eden will be show cased to the world. The tax advantages for the rich & businesses between Canada & US (even more pronounced by 2012), is already making many Americans immigrate here. I have never seen so many CPA's apply for accounting jobs in Vancouver (CPA - Certified Public Accountant the equivalent to our CGA's in Canada). |
|
|
|
|
I AM BOG
|
Dec 4 2008, 12:38 PM
Post
#13
|
|
|
QUOTE real estate prices will hit new highs after olympics I believe you, new highs will be hit in around 2020. |
|
|
|
|
StraightTalk
|
Dec 4 2008, 12:39 PM
Post
#14
|
|
|
QUOTE (REAL tor @ Dec 4 2008, 10:07 AM) The Olympics didn't do much for Salt Lake City housing prices: Vancouver is many times better than Salt Lake City, Utah. Salt Lake City http://en.wikipedia.org/wiki/Salt_lake_city 1/3rd the population of GVRD. Salt Lake City was host to the 2002 Winter Olympics. At the time of the 2002 Olympics, Salt Lake City was the most populated area to hold a Winter Olympic games. The event put Salt Lake City in the international spotlight and is regarded by many as being one of the most successful winter olympics ever. Vancouver http://en.wikipedia.org/wiki/Vancouver In short, all you haters, whiners, complainers, fear mongers should move to a cheap city like Phoenix, AZ. No one is stopping you. Bon Voyage! Let the people that enjoy Vancouver enjoy without your constant whining & complaining please. Attention: REGISTER / LOGIN to view the image! This post has been edited by StraightTalk: Dec 4 2008, 12:41 PM |
|
|
|
|
StraightTalk
|
Dec 4 2008, 12:42 PM
Post
#15
|
|
|
QUOTE (I AM BOG @ Dec 4 2008, 12:38 PM) I believe you, new highs will be hit in around 2020. Then 2040, 2060...LOL The cycle seems to be around the 10 - 15 year range but over the long-run it will just keep going up -- mostly due to TIME VALUE OF MONEY. This post has been edited by StraightTalk: Dec 4 2008, 12:43 PM |
|
|
|
|
I AM BOG
|
Dec 4 2008, 03:38 PM
Post
#16
|
|
|
QUOTE Then 2040, 2060...LOL The cycle seems to be around the 10 - 15 year range True. I am old enough that this is the third cycle for me and I'm only just 40. The first two were not in this country, but I did well then. |
|
|
|
|
smelly
|
Dec 4 2008, 07:47 PM
Post
#17
|
|
|
QUOTE (StraightTalk @ Dec 4 2008, 12:42 PM) Then 2040, 2060...LOL The cycle seems to be around the 10 - 15 year range but over the long-run it will just keep going up -- mostly due to TIME VALUE OF MONEY. Longer than youve been alive then? |
|
|
|
|
StringerBell
|
Dec 4 2008, 08:26 PM
Post
#18
|
|
|
QUOTE (StraightTalk @ Dec 4 2008, 01:35 PM) Just look at what Expo '86 did for Vancouver. The 2010 Olympics is many times a bigger event than Expo '86 ever was for Vancouver. You have to remember that Expo 86 came at the perfect time for the City. Before Expo 86, Vancouver was barely on the radar of foriegn investors and wealthy immigrants so the cost of living was relatively cheap. Expo 86 helped put Vancouver on the world map. But now in 2008 everyone knows about Vancouver, housing prices are over-valued, and there's a lack of well-paying jobs in the city. The only thing the Olympics will leave this city is massive debt and fewer jobs. |
|
|
|
|
AA Lavey
|
Dec 4 2008, 08:57 PM
Post
#19
|
|
|
A new high is a return to the peak median plus $1
|
|
|
|
|
giggie
|
Dec 4 2008, 09:03 PM
Post
#20
|
|
|
Latest news real estate prices are going down! Seriously, are people so freaking boring that they don't have anything more interesting to talk about. Go get a life, and enjoy it, and buy in when prices have hit rock bottom. It's not rocket science.
|
|
|
|
| Bill Bennett |
Dec 4 2008, 09:28 PM
Post
#21
|
|
|
Convention center $450 million over budget
Hundreds of millions of dollars not counted in Olympic budget (ie) Sea to Sky Highway expansion Biggest financial disaster EVER in BC Suck it up, right-wing idiots You'll be paying for decades |
|
|
|
|
StringerBell
|
Dec 4 2008, 09:33 PM
Post
#22
|
|
|
QUOTE (Bill Bennett @ Dec 4 2008, 10:28 PM) Convention center $450 million over budget Hundreds of millions of dollars not counted in Olympic budget (ie) Sea to Sky Highway expansion Biggest financial disaster EVER in BC Suck it up, right-wing idiots You'll be paying for decades We'll all be paying for it. |
|
|
|
|
I AM BOG
|
Dec 4 2008, 10:25 PM
Post
#23
|
|
|
Firstly Giggie, bugger off, nobody asked you to post here, so go away.
Secondly, from the BBC; QUOTE (BBC) Oil falls sharply on big job cuts
Oil is far below the record of $147 a barrel reached in July Oil prices have fallen to almost four-year lows after more bad economic data in the US, including unemployment benefit rises and big job cuts. US light crude fell more than $3.12 a barrel to $43.67, its lowest level since January 2005. London Brent fell by $3.16, to $42.24 a barrel, also a near four-year low. Merrill Lynch analysts forecast that the price could fall as low as $30 a barrel should China fall into recession and Opec fail to cut production. "With demand vanishing across all key oil-consuming regions, a strong rebound... is unlikely," they said. Despite this worst case scenario, Merrill Lynch forecast an average oil price of $50 a barrel in 2009. Oil prices are more than $100 below their $147 a barrel highs seen in July this year. "The scale of the correction so far would indicate further pain on the downside," said Simon Denham of Capital spreads. Figures released earlier on Thursday showed US unemployment benefit claims at a 26-year high. Also on Thursday, telecommunications giant AT&T and other major US companies announced big job cuts. This post has been edited by I AM BOG: Dec 4 2008, 10:28 PM |
|
|
|
|
slixx_08
|
Dec 5 2008, 12:40 AM
Post
#24
|
|
|
North American R e s i d e n t i a l Real E s t a t e : I s Th e r e a n Ol ymp i c Ef f e c t ? A Review of Past Olympics The Canadian Experience Calgary, Alberta5 successfully hosted the 1988 Winter Olympic Games. To determine if there was an Olympic effect on house prices in Calgary, we compared that city’s housing prices6 to those of neighbouring Edmonton, the province’s second largest city. Chart 1 plots the ratio of house prices in Calgary to those in Edmonton starting with 1981, the year in which the success of the Calgary bid was announced. A rise in the charted line means that housing prices in Calgary were rising faster than those in Edmonton, while a decline in the charted line indicates that the prices in Calgary were dropping faster than those in Edmonton. These relative movements may be a result either of changes in the house prices in Calgary or changes in those in Edmonton. While the 30% rise in the ratio from 1984 to 1988 may be attributable to some pre-Olympic buoyancy in Calgary, it is clear that the impact was not sustained. As well, the recovery in Calgary prices relative to Edmonton prices in the two years leading up to the Olympics only brought the Calgary prices back to the modest premium they had enjoyed at the start of the 1980s. After the Olympics, the ratio averaged about 105 from 1991 to 1997, a similar level to that experienced from 1981 to 1983 when it was also 105. In fact, house price movements in Calgary followed the same general pattern as those in Edmonton, before and during the Olympics, debunking the existence of an Olympic Effect in the real estate market. Note that although there was a post-Games spike from 1988 to 1990 in the performance of Calgary’s housing market when compared to Edmonton’s, this coincided with a period of strong gains in crude oil prices, which may have disproportionately affected Calgary (at the time, Calgary had more oil production than Edmonton). Prices moved from $12/barrel in 1986 to over $32/barrel in 1990. In the current commodity cycle, soaring crude oil prices resulted in large gains in home prices in both cities. Calgary’s market initially led the way but the recent valuation premium of roughly 25% was subsequently re-established in early 2007 as a surge in new building re-established the supply and demand balance in Calgary The U.S. Experience Looking slightly farther afield in a market that is nonetheless similar to our own, we then examined the U.S. experience. Los Angeles (LA) hosted the 1984 Summer Olympics; Atlanta won the bid for the 1996 Summer Games; and Salt Lake City was home to the 2002 Winter Olympics. We plotted house prices for these three cities, as shown in Charts 3 to 5. On an absolute basis in each major centre, any run up in prices occurred at least five years prior to the actual Games. Prices in Los Angeles rose steadily from 1978 and came to a peak compared to the rest of the State of California in 1980, but actually declined after that until 1983 and then levelled off through to 1986 – in other words, from before the Games until long after they were done and gone (Chart 3). Note that relative to San Francisco, LA house prices declined after the announcement of the Olympics and only enjoyed a brief period of outperformance in 1982. The Atlanta Games were announced just as the U.S. economy was about to enter a recession. While real estate prices are largely driven by local factors, they are also influenced by more “national” factors such as the level of interest rates and the stage of the economic cycle. Chart 4 shows that prices in Atlanta showed little if any difference as compared to prices in the State of Georgia more generally; moreover, relative to Birmingham (the largest city in neighbouring Alabama), prices in Atlanta hit their low as the Games commenced. In Salt Lake City, prices for real estate showed little difference relative to overall trends in the State of Utah from the time that the Games were announced until well after their completion. Despite the small sample size, it appears that the Olympics have very little consistent effect on house prices, even in smaller markets such as Salt Lake City. On balance, it appears that if there is an Olympic effect on real estate prices, it occurs well in advance of the Games. Indeed, the greatest impact of the Olympics on real estate value would appear to be an announcement effect that boosts real estate values on a temporary basis when the bid is awarded. Conclusion: Sorry, No Lasting Olympic Effect The hosting of the Olympic Games may have some impact on residential real estate prices, but our analysis of four North American experiences suggests that the impact, if any, is likely to be experienced over a fairly long time frame during the lead up to the Games and does not persist after the Games are done and gone. The impact may depend on the size of the local property market – presumably the smaller the market, the more noticeable the impact – but, neither Calgary (population 657,000 in 1988) nor Salt Lake City (population 182,000 in 2002) experienced a material Olympic effect. The effect may be less pronounced for a larger urban centre such as Vancouver (population 2,361,8339 anticipated for 2010) and a luxury resort like Whistler, particularly since Vancouver is already the country’s least affordable real estate market and Whistler is already a world-renown destination resort (with the associated high-priced real estate). Added to this is the fact that Vancouver was arguably already in the midst of one of the strongest real estate booms ever. Annual homeownership costs amounted to 79% of household disposable income in Vancouver at the end of 200710; almost double the average among Canada’s major cities. When all is said and done, the impact of the 2010 Olympics will likely be both indirect and direct through increased international exposure for the Province of B.C., Vancouver and Whistler as well as the construction of permanent facilities and improvements to infrastructure including the significant upgrades to the Sea-to-Sky Highway and various sporting facilities. However, our research indicates that those hoping for an Olympic effect to provide a sustained boost to an already heated residential real estate markets may be in for a disappointment. For the complete report |
|
|
|
|
slixx_08
|
Dec 5 2008, 12:40 AM
Post
|
